Accident insurance

Accident insurance
Insurance In*sur"ance, n. [From {Insure}.] [1913 Webster] 1. The act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or guarantee another against loss by certain specified risks. Cf. {Assurance}, n., 6. [1913 Webster]

Note: The person who undertakes to pay in case of loss is termed the insurer; the danger against which he undertakes, the risk; the person protected, the insured; the sum which he pays for the protection, the premium; and the contract itself, when reduced to form, the policy. --Johnson's Cyc. [1913 Webster]

2. The premium paid for insuring property or life. [1913 Webster]

3. The sum for which life or property is insured. [1913 Webster]

4. A guaranty, security, or pledge; assurance. [Obs.] [1913 Webster]

The most acceptable insurance of the divine protection. --Mickle. [1913 Webster]

5. Hence: Any means of assuring against loss; a precaution; as, we always use our seat belts as insurance against injury. [PJC]

{Accident insurance}, insurance against pecuniary loss by reason of accident to the person.

{Endowment insurance} or {Endowment assurance}, a combination of life insurance and investment such that if the person upon whose life a risk is taken dies before a certain specified time the insurance becomes due at once, and if he survives, it becomes due at the time specified. Also called {whole life insurance}.

{Fire insurance}. See under {Fire}.

{Insurance broker}, a broker or agent who effects insurance.

{Insurance company}, a company or corporation whose business it is to insure against loss, damage, or death.

{Insurance policy}, a certificate of insurance; the document containing the contract made by an insurance company with a person whose property or life is insured.

{Life insurance}. See under {Life}. [1913 Webster]

The Collaborative International Dictionary of English. 2000.

Look at other dictionaries:

  • accident insurance — ➔ insurance * * * accident insurance UK US noun [U] INSURANCE ► insurance against injury or death caused by an accident: »Personal accident insurance allows no fault claims where there is a pay out regardless of who s responsible …   Financial and business terms

  • accident insurance — n: insurance against loss to the insured through accidental bodily injury Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. accident insurance …   Law dictionary

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  • accident insurance — insurance which pays benefits in the event of an accident (car, etc.) …   English contemporary dictionary

  • accident insurance — insurance providing for loss resulting from accidental bodily injury. [1865 70, Amer.] * * * …   Universalium

  • accident insurance — A policy or contract of insurance whereunder the insurer agrees to pay to the insured or a beneficiary named in the policy a stated sum for disability of the insured incurred by accident, for the death of the insured caused by accident, for the… …   Ballentine's law dictionary

  • accident insurance — An insurance policy that pays a specified amount of money to the policyholder in the event of the loss of one or more eyes or limbs in any type of accident. It also pays a sum to the dependants of the policyholder in the event of his or her death …   Big dictionary of business and management

  • accident insurance — /ˌæksɪd(ə)nt ɪn ʃυərəns/ noun insurance which will pay the insured person when an accident takes place …   Dictionary of banking and finance

  • accident insurance — noun Date: 1851 insurance against loss through accidental bodily injury to the insured …   New Collegiate Dictionary

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